High insurance costs in food industry must be tackled, says ICOS

vICOS, the umbrella body for the country’s co-ops, has expressed concern at the increasing levels of insurance costs in the food industry.

In a pre-budget submission, it urged the Government to introduce measures that will encourage growth in the food industry and not hinder it.

Dessie Boylan, president, said a number of co-ops affiliated to ICOS have experienced insurance increases of 125% for cost of insurance for 2002. It has become one of the largest items in the expense accounts for the year.